US inflation pressures stay tame, further lowering September hiking odds
Underlying consumer prices climbed at a restrained pace in the United States last month, modestly weakening the case for a rate hike at the Federal Reserve’s September meeting, and putting slight downward pressure on the dollar. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index—with highly-volatile food and energy prices excluded—rose 0.2% in July from the prior month, accelerating from a flat print in the prior month, but climbed by a fairly-comfortable 2.5% over the same period last year. The more-volatile all-items headline price measure edged 0.1% higher in July from the...